if the dollar crashes does everyones debts go away???
Posted June 29th, 2008 by Infospill.com
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if the dollar crashes does everyones debts go away???
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If the dollar crashes is
If the dollar crashes is seems as tho all the people that are left holding the bag are the ones that are going to get screwed in the end.
So if you have a billion dollars in the bank it will be worth nothing.
If you have no money but a gold coin then you are richer then the billion Dollar man. as long as it is not hard assets!
United States can pretty much call bankrupt to all the countries that it owes money to!
So in other words, is the dollar crashing a way for United States to buy up the world with loans and then file for bankrupt?
and restart fresh leaving all other countries in the dark?
United States buys all the hard assets in the world with a fake dollar then escapes in the end with the loot!
Mexico did the same thing a few times.
I have alot of mexican money that is worthless now and its only like 20 year old coins!
americans will be running to mexico after the dollar crashes because stuff will be a arm and a leg in the USA to buy.
americans in san diego already drive to mexico just to fill up there gas tanks!
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Keep an eye on Tony Blair.
Watch Tony Blair as well, he has been a great asset to JP Morgan and their buyout of Bear Stern for a meer $2 dollars a share.
He is currently running for the first presidential position of the European Union.
Some day we may get our Independence from England and the bankers, but it is going to take a lot of waking up.
Why not borrow more?
No. Wealth is not created or destroyed, only transphered. Fiat money is only legal tender while people agree it has value. Paying off good debt with bad money will not be acceptable to the legal holders of your property. Watch the Money Masters.
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American Indian reservation lands including rights held in trust by "THE UNITED STATES OF AMERICA", shall pass exclusively to individual members of the American Indian community in the form of land patents and be distributed to individuals of these tribes and nations in the form of allodial title, which by definition include all mineral rights. The American Indian community consisting of many different tribes shall no longer be bound by any authority of the "THE UNITED STATES OF AMERICA" , and shall establish their own governments as soveriegn individuals such as they find necessary. These American Indian nations are also entitled the right to Statehood if they so choose, as do all other territories currently under the control of "THE UNITED STATES OF AMERICA" as does Canada under the terms of the "Articles of Confederation"...
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All individuals currently in possession of private lands shall be entitled to have their lands recognized by the allocation of land patents. Any corporate land held in trust shall negociate with "it's" respective share holders to have transfered all land to private individual ownership for which they shall also be entitled to land patents...
Each State will be entitled to a proportioned part as part of a whole part of additional properties, excluding land, held in trust by "THE UNITED STATES OF AMERCA". Each State shall be entitled to receive a portion of all assets held by THE UNITED STATES OF AMERICA and transfered to the authority of the people of these united States for deposit into the treasury of each independent State...
States may creat new States by dividing, if the people of those States so will it...
The sale of all property, excluding land, but including territories not entitled to Statehood and national waters held in trust by "THE UNITED STATES OF AMERICA" shall be actioned exclusively to living individuals of these united States and no foreign nation or corporation shall be allowed to participate in such actions... Purchases will be used to pay in Real Money, goods or services for all debt owed by "THE UNITED STATES OF AMERICA", as a means of exchange for Federal Reserve Notes in circulation and owed by "THE UNITED STATES OF AMERICA" as outstanding debt to foreign nations and individuals. Upon reciept of these outstanding Federal Reserve Notes of debt, all notes will be destroyed. The Federal Reserve Bank from the date of 17th September 2008 will have no right to issue new notes, nor does "THE UNITED STATES OF AMERICA" have the right to take on more debt. We the People of these united States, do hereby declare that property ownership shall be recognized by these united States only under the condition of private ownership by individuals; corporations will no longer be recognized as having equal rights to those of an individual. A transition period of no more than 4 years shall pass for the transfer of property titles to individuals. No longer will patents be controlled by "THE UNITED STATES OF AMERICA", but by local governing systems under total control and individual responsibility of the people of these united States, All patents shall hencefore be the full responsibility of the individual owner to protect and defend. Those holding a land patent are liable for all actions which cause damage or interfere with the rights of other land patent owners. All privately owned residential properties shall hold a land patent and the responsibility to protect and defend these land patents shall be with the owner, any recognition or admistration of land patents shall be by local freely elected land patent officials...
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Taxes may be applied to corporations who lease multiple land patents from owners for their activities by local governments. All responsibility for activities on lands will be with the owner of the land patent...
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A maximum of 1 year shall pass for the free exchange of Federal Reserve Notes afterwhich the Federal Reserve Notes will no longer be recognized by the people of these united States of America as money. Real money shall be considered the coinage of gold or silver, by which the minting of coins shall be the responsibility of local governments. However no commodidy or service may be restricted for use as a means of exchange as well as no tax may be applied to any kind of trade between individuals.
All local public services shall be the responsibility of the local government to contract and paid for from donations or fees raised from such community or from corporatate taxes within their district. All services shall be privatized and only local government regulations may apply...
Payment of debt held by "THE UNITED STATES OF AMERICA" shall be made to debtors in Federal Reserve Notes, these notes will have a valid trade within these united States for a term of 1 year. Federal Reserve Notes will no longer be recognized as legal tender in these united States of America. And all debt shall be paid by the U.S. Treasury by actioning off any patent and other tangible possessions, excluding land. No transfer of holdings by "THE UNITED STATES OF AMERICA" will be recognized and apply to all description of "THE UNITED STATES OF AMERICA" by the Incorporation of District of Columbia by (Presidential) Legislative Act of February 21, 1871, under the Emergency War Powers Act and the Recostruction Acts...
This article shall become effective on September 17th 2008
"iehuvihs"
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No signature necessary to validate nor shall anyone swear by this declaration, simply let your yea mean yea and your nay mean nay.
grant
Hyperinflation benefits the rich.
Well, this totally benefits the elites and the wealthy. A lot of people speculate that they are deliberately trying to crash the Dollar. I don't think so. They are doing what they've been doing since 1913--profiting from the inflation of the dollar. And they may be accelerating the process now that the real estate bubble has popped, so they can make a fortune profiteering real estate.
Think about how this works.
Suppose you are rich, not a billionaire, but just rich, and you own beachfront in Florida, a 70-acre ranch in Texas with natural gas wells, a condominium in Manhattan, and a large house in Beverly Hills, California.
Let's say each property is worth $2 million, and each are locked in on mortgages with monthly payments.
Suddenly, the dollar hyperinflates after a big inflationary spiral, and two years from now gold is $2400 an ounce, gasoline is $12 a gallon, a six-pack of cheap domestic beer costs $15, and a 44 ounce Dr. Pepper from McDonald's costs you five bucks.
If the rich person does not lose anything during the hyperinflation, he has made out like a bandit on real estate, while the poor saps who commute for a living are struggling to make ends meet--because all they own is shiny new car that loses 90% of its value in the first three years of ownership...and they live in a cheap apartment with crappy air conditioning that rents for $1300 a month.
The rich man, by contrast, can now sell his condo in Manhattan for $6 million, and use the money he makes from that transaction to pay off his ranch in Texas, his beachfront in Florida, and his mansion in Beverly Hills.
The dollar's been crashing non-stop since we went off the gold standard.
This benefits the rich. If they can maintain this without losing Wall Street, they stand to make a fortune. Similarly Bush, Cheney, and friends are making a fortune off wild petroleum speculation--the same driving force that is breaking the middle class.
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I wouldn't put it past them to
Congress or the president may simply add zeros to our debts as the inflation builds. "To protect the banks, all loans are indexed to the CPI, now calculated weekly."
Good Question
If they inflate the money like they want my home and care loans will be of less value and easier for me to pay off. Especially a house loan for 30 years. The payment will be pocket change in 20 years.
The dollar must fall, but we can't allow UN occupation.
That is the exact reason why countries around the world are holding on to dollars, in order for the Global government to take over,"The United Nations".
The American people and individual States must be weakened so that the U.S. government can be dismantled. I am sure the plan is to pass all U.S. government properties to the United Nations and likewise those countries holding dollars will give up the dollars they hold in reserve to the United Nations, making it the new government, with the capital in New York. Of course there will be negociations to give China a great position in the United Nations as well as other countries. This is so obvious it is rediculous.
It's called
Forcloser!
They take all your real property. Once they take all the land Property tax will be put into the flat tax. They sure won't want to pay all those property taxes on all that land. They will still allow you to take care of that bill while letting you work their land for them. Of course you will still get to pay rent on the land you once owned.
Land Patents...
That's why Allodial Title is so vitally important. This will allow true ownership of homes and property and then the UN won't be allowed to take it. Allodial Title has always beaten warranty deed.
You know, I have often thought the same thing
Why not print some money at the end to pay of our debts, however since the debts our ours (USA), and if we get the money from the Fed (Mafia) there is no way they would allow us off the hook without adjusting our debt to their new currency whatever it might be.
Isn't Globalization fun!
It is a very hard call, since Central Banks around the world work together with the Federal Reserve Bank. China for one is hoarding dollars to keep them off the market, this can lead to fewer dollars in the States, which makes them more valuable for trade in the States. If a company or individual here is desperate for dollars to pay debt then those hoarding dollars can come in and buy at a discount. As long as the dollar is and continues to be the only legal tender for paying debt, American individuals are at the mercy of those holding dollars. I chose China since it is the largest hoarder of dollars, but many other countries are involved, Japan, Brazil to name a few others. Since these countries own shares in their multinational corporations they can easily purchase foreign companies and take control of production. Of course hoarding is a bad word to use as it can easily be argued that these countries are saving dollars for reserves, and perhaps for now the government is unlikely to allow the absence of dollars on the market, so we will either see more stimulus packages in the future, or more government spending.
What we need to prevent the government from doing is to openly sell government holdings to foriegn nations, considering that the government owns over 50% of all lands in the country, mineral rights, ports ect... Many countries have their eyes on many of these items. Off shore drilling if allowed may even go to foriegn nations with dollars. Isn't Globalization fun!
grant
Didn't we do the same thing to Russia
Didn't Reagan buy up all the rubles and destabilize their currancy and help along their downfall ?
My
Debt will go away, because I bought gold and silver!! Simple!
Depends
In a hyper-inflation, if you still have a job (which is actually likely with hyper-inflation until near the end) your salary is going to be rising with (but somewhat behind) rising prices. But your debt will be constant. SO if you owe $100,000 on your house and you are being paid $100,000 a week, voila!
Lenders get killed in hyper-inflation as do savers (who are really lenders) and people on fixed incomes.
Of course if you lose your job, you are out of luck. And if the government intervenes to adjust debts or introduces new currency with some legal parity with the old it could mess it up.
But there is a very good chance that with a hyper-inflationary crack up, debts will disappear. This is why interest rates start to go through the roof when inflation hits - lenders are at risk.
and those with gold and
and those with gold and SILVER- make out like bandits!
as for me and my home, we shall worship the LORD
I once read about the
I once read about the hyper-inflation that occurred in Germany in the early 1920's. Money became so worthless that landlords never even attempted to collect rent or foreclose on property. It just was not worth the effort.
Nope. But . . .
The US has HUGE, unpayable debts -- $70 trillion or more in obligations, including $9 trillion in on-the-books debt.
But! If the FedGov (via the Fed Reserve) prints more money, then -- like any counterfeiter -- it will find its debts easier to pay. What a relief! Problem solved!
But what about the little people? What about YOU? Can YOU print up money to pay YOUR debts?
No?
Very sad. Perhaps you'll still have a job, though, and will be getting SOME dollars. That would be good. Still, everything you buy -- food, fuel, medicine, whatever -- will require MORE of your dollars, so you'll have fewer dollars left to pay your debts. NOT good.
Better to have no debt, then, unless you are part of the US counterfeiting team. Might be good to have some real goods of various types (food, metals, etc) since they are cheaper today than they will be tomorrow.
Some news coverage on the topic that most Americans won't be seeing:
"Fortis expects a complete collapse of the US financial markets within a few days to weeks"
https://www.kitcomm.com/s...
Barclays warns of a financial storm as Federal Reserve's credibility crumbles
http://www.telegraph.co.u...
Advice: Even Mild Inflation Should Scare You
http://www.thestreet.com/...
Morgan Stanley warns of 'catastrophic event' as ECB fights Federal Reserve
http://www.telegraph.co.u...
RBS issues global stock and credit crash alert
http://www.telegraph.co.u...
If the dollar crashes and
If the dollar crashes and that's what we were using to pay our debt. When the dollar becomes worthless, how will we pay our debt? If we have no money that is accepted then that only leaves hard assets like the very ground we walk on and "favors", like stomping mud holes in 3rd world countries and sacrificing our own for the cause of our masters, or in other words labor to work off the debt. No doubt a combination of whatever means have been deemed necessary by the powers that be.
Commission on Presidential Debates - http://www.debates.org/pa...
National Ballot Access - http://www.directdemocrac...
Voters for none of the above - http://nota.org/
Black Box Voting - http://www.blackboxvoting...
I'm not 100% sure about this
but I think world bank has most of our lands and natural resources as collateral, so maybe we need permission and pay fee to use pretty much everything here in United states including water.
Almost
If more and more dollars go into circulation, not just FED/banking counterfeit but also lots of dollars the chinese/arabs don't want to store and let rot... then all prices go up and wages will too. Wages usually last, by the way.
If you owe someone a million dollars now and the average monthly salary becomes one million dollars, it's going to be pretty easy to pay of your debt. Or, if you bought 1000 golden eagles for it, you might be able to pay off your debt by giving the poor lender 10 and you keep the other 990 for an early retirement.
Of course, speculating this way can work both ways. But if you're truly 100% sure convinced that the dollar is going down the drain, being short on dollars is your way to go.
Pure speculation. I think it's dangerous.
Is this a sure bet or what? I just can't believe it. I just don't think debtors would come ahead. To say they would seems to me like some kind of upside down logic. That sounds like some kind of crazy talk.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters."
Benjamin Franklin
It's not crazy talk.
Someone in Zimbabwe with $100 US dollars tucked away can purchase $961,000,000,000 Zimbabwean dollars. (Friday's exchange rate).
If you took out a home loan before the economic disaster, do you think you'd be able to pay it off now?
Looks that way, huh?
___________
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No
Remember the harsh new bankruptcy laws created during the middle of the housing crash and the new labor (debtors) camps?
Watch Money Masters: Being in debt during a depression is the worst possible thing.
I agree with your view. If life would get easier for debtors
when the dollar carshes, why not crash the dollar already? I have a strong opinion that money would likely become very hard to come by in the next economic crisis.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters."
Benjamin Franklin
.
.
I don't think so. I think that it will become much harder to
earn money. That is why I think it is so important to save cash, now. Many people here don't like cash, but in reality, I need USD to pay bills and taxes, so I think saving USD now is very important, in my opinion.
I thought this was rather common sense, but some people here seem to just hate the idea.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters."
Benjamin Franklin
your usd that you like
your usd that you like purchase less and less everyday... a 1947 silver US quarter purchased 1 gallon of gas in 1947,,, today it take 4.00 us dollars to purchase 1 gallon of gas but still costs 1 1947 us silver quarter... BUY SILVER... you can exchange the silver for us dollars when you need to pay for something in usd's!
as for me and my home, we shall worship the LORD
DUE, HERE IS YOUR PROBLEM.
I don't like USD as a currency. Silver would make a much better currency, in my opinion. But, I have no choice but to use USD to pay taxes and bills at this point. If there were other choices, I'd do without USD. But, I do like to survivie and I think it is absolutely necessary to have enough USD to survivie. Otherwise, I think the debt based currency is very evil.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters."
Benjamin Franklin
no ...
but lets put it in perspective...
You have a car loan ... you owe 20k $frn's
they loose all value ....dollars are everywhere and worth less than one square of toilet paper.... you of course will have more of them as they are worth nothing.
If a loaf of bread is 1,000 FRN's ...then paying off your car would be 20 loaves of bread, or maybe even a few pieces of gold jewelry you own. .... lol... I'm tired and this is not coming out right ...
_____ _____ _____ _____ ______ ______ _____ ___
“Revolutions never go backward.”
Wendell Phillips
I just can't believe it. I think many people are having hard
times earning enough money right now. I just don't see why people can start earning more money in a recession or a depression, even if the dollar was worth much less. That doesn't seem like a bad time to me. Instead, that would be a good time for those who have debt problems, in my opinion. I just don't think that is likely. I think people with debt usually have harder times in a recession.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters."
Benjamin Franklin
in a recession people are
in a recession people are getting layed off and and wages are stagnant or actually go down because there are more people competing for less jobs.. I'm seeing this right now in contsruction.
as for me and my home, we shall worship the LORD
Normally recessions and depressions are
deflationary periods, but there are exceptions. Historical examples have included the Wiemar Republic, Chile, Argentina and currently Zimbabwe. Normal recessions and depressions are a period of reorienting capital from non productive areas to productive ones. During this period, capital (or cash) becomes scarce and prices deflate. The exceptions are those economic events known in Austrian Economics as a "Crack-Up Boom" and may be also described as a hyper-inflationary depression. The FED has shown that it does not intend to let liquidity (the flow of cash) to be a problem. The only way they can do this is by finding new and novel ways to increase the amount of currency in circulation. While the FED ceased reporting M3, or growth in money supply in March 2006, individuals have kept up with this using the normal means to compute such information. Increase in money supply usually takes 6 to 18 months to show its inflationary aspects in a general economy. In late 2007 the estimate was that money supply was increasing at the rate of ~14%. If you take the lies currently being handed out by the Bureau of Labor Statistics (aka Bureau of Lying Statistics) then current overall inflation would be annualized at ~7% with core inflation (which doesn't include food and energy costs) at ~3%. Our government has shown a tendency to use these reports to lie to the citizens of this country. JFK seems to have started it all by changing the way unemployment figures were computed. I have read reports and believe them, that actual inflation is running closer to 14% and unemployment is close to that as well. This would be within the time for the inflation to show after the money creation. Current estimates are that this money creation is increasing. Add to that, most of the FRNs in circulation are being used overseas because of a treaty worked out by Kissinger during the Nixon administration. It was an arrangement whereby all the major oil producers in the world agreed to price their oil and sell it only for dollars, hence the term petrodollar. This was necessary to give some form of commodity backing to the dollar after Nixon removed all gold backing for the dollar on the international government exchange. This requirement to have dollars to buy oil, caused all nations that were net importers of oil to have dollars to purchase their oil and caused all nations to maintain dollar reserves. If the dollar becomes not required to buy oil, then these countries will no longer need these dollars (hence the threat to dollar hegemony by Saddam Hussein in requiring euros for oil instead of dollars. Venezuela and Iran currently pose the same threat. When the countries of the world will no longer accept these dollars, they have no place to come but back home. When they do, their traveling bags will include all the inflationary pressure we have been exporting to the rest of the world under this petrodollar scheme. You already see the leading signs of hyperinflation as prices on many goods and commodities increase daily at times. Gasoline is a good example of this. As the hyperinflation grows prices will be marked up on a shorter and shorter time frame. With the FED currently increasing money supply at an estimated 24%, the door to hyperinflation is wide open. When this crash comes, it will move with such rapidity as to be astounding. It is then that you must be ready to act and sell what you can to get enough FRNs to pay off all your debts. But, do not sell all and maintain a store of wealth for there will be many buying opportunities. I leave you with one thought - during the hyperinflation that hit the Wiemar Republic, there were farmers who were able to pay off all their debts, including mortgages, with the sell of one egg.
Nice post
I suppose there is no way it won't happen. (?)
As a pilot
there is a moment in every flight where you are at the "point of no return". That is the flight time and fuel remaining preclude a return to the starting place from then on. I believe we hit the point of no return with the collapse of Bear-Stearns.
actually we went past the
actually we went past the point of no return everytime greenspun chose to monetize the debt instead of letting a good hard recession clean all the excesses out of the economy.. everytime he flooded the market with liquidity he just delayed the day of recconing. a derivatives market worldwide of over a QUADRILLION dollars is the worlds undoing!
as for me and my home, we shall worship the LORD
The derivatives market
is all based on a computer model that nobody really understands and I am beginning to believe it will act on the world economies like a virus does on a computer's OS. Look at how the FED is having to constantly expand the system for putting cash into the bankster's hands. Each time there is an increase, it nearly doubles. And what happens to the computer OS once the virus grows past a certain size?
damn
I keep hoping it might not be too bad. I guess something that big (Bear Stearns bailout) can't happen without major consequences.
Just remember
debts are sold to collectors and the collectors can never prove legally that you owe them the money. They don't have the original contract. So the only way they get any money is through fear. People don't know that they don't have the contract. Jim Sinclair speeks of this often, even with mortgages - the people foreclosing cannot come up with the IOU and judges are throwing them out. Greg Hunter will be on CNN on Money Hour Sunday, he's very well respected by Jim Sinclair and he will speak of the credit crisis like no other from the MSM. Check it out on
www.jsmineset.com
He was on 2 weeks ago when he talked about the above missing original IOSs or contracts.
?
Are you saying that because my home mortgage has been sold to other companies 3 times that the one now holding the loan cannot legally demand payments or foreclose?
No we just join with the One
No we just join with the One World Order, because Mexico has our farms and a stronger economy than us, so we have no choiice.
That would be really nice :-)
Why not, they could just wipe the slate clean and start over. Obviously then, people who sign up for credit, would have to clear some pretty big hurdles I would imagine.
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So far
has anything been nice?
nope
nope
After the fiasco of the mid
After the fiasco of the mid 80's Reagan declared credit amnesty. All bad credit was removed from a person's file and they were allowed to start over fresh.